Foreclosures down for 4th month in a row in August

5 states account for nearly half of activity in the past year

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The number of U.S. foreclosures dropped for the fourth month in a row in August, according to a monthly foreclosure report released today by real estate data aggregator CoreLogic.

As of the end of August, 1.3 million homes — 3.2 percent of all U.S. homes with a mortgage — were in some stage of the foreclosure process, a 7.1 percent drop from August 2011.